Well-performing corporates coming to market to renew their insurance could achieve rate reductions in the low single digits next year, while those operating in more challenged industry segments or exposed to certain problematic perils will face continued upwards pricing pressure.

Morgan Stanley analysts have suggested that multiple developments during the third quarter mean the investment thesis for the P&C space has become less clear, with more questions than answers.

The commercial insurance composite rate increase was 3.8 percent in Q3 2024, a slowing sequentially from 4.4 percent in the second quarter of this year, according to MarketScout, which expects an impact on rates from Hurricanes Helene and Milton in Q4.

SureChoice Underwriters Reciprocal Exchange (SURE), in partnership with SageSure, has launched its first non-admitted business owner’s policy (BOP) in California.

A near-universal consensus is emerging that US P&C rate increases are moderating, as commercial property slows from last year’s hard conditions.

US commercial insurance rates increased 5.9 percent throughout the second quarter of 2024, a sequential slowing from 6.3 percent in Q1 2024 driven by a reduction in commercial property, according to WTW’s commercial lines insurance pricing survey (CLIPS).

Management of Millennial Specialty (MSI) said that after reaching the $1bn in-force written premium milestone in the second quarter, The Baldwin Group-backed MGA platform has ideas for around ten new programs as it looks to launch three to four a year.

District Cover, a newly established public benefit company and insurance agency, has introduced its “District Covered” commercial package policy in partnership with Vantage Risk, which is a capacity provider and investor.

Global commercial insurance rates were flat in the second quarter of 2024, marking the first time in almost seven years that the composite rate did not increase, according to the latest Marsh global insurance market index.

Paragon Insurance Holdings has formed a new small commercial division led by Charles Lasher, who has joined the multiline MGA from RPS Atlas.

Commercial insurers accounted for 22 of the top 25 spots in S&P Global Market Intelligence’s US property casualty industry performance rankings, with E&S carrier Kinsale retaining its place at the top.

David Lupica has been promoted to vice president of Chubb Group and division president of its $4bn-premium E&S unit Westchester, with the insurer also announcing several new leadership roles across North America lower middle market and small commercial.

The US commercial insurance market is quickly becoming better for buyers as the property market moderates, workers’ compensation remains profitable and professional lines pricing continues to fall, although liability rates continue to climb, Lockton has commented.

Star Vantage Reciprocal Exchange is set to begin underwriting on 1 July as it launches with affiliated David Nichols-led MGA StarLight Management Group targeting personal lines and commercial lines admitted business in Mississippi and in other states including Florida on an E&S basis.

QBE North America is exiting the admitted middle market segment except in construction, and will instead look to grow its specialty casualty E&S business and launch a non-admitted property business,